Buyers asking to re-open price negotiations

[Deleted User]

Yes, don't take it personally. Just be hard on them - tell them the price they negotiated is the price you are selling it as. Every survey is going to say "They might need a new boiler and they've not had their electrics tested in 10 years"

Then, offer them 7 days to keep to the original price they agreed on before you put it back on the market at a new asking price. Remember that the estate agent is working for you - and make them work for their money. They want to sell you house and don't especially care if it's for asking price or £10k below. Their commission difference is negligible.

They've invested money and emotion in this now - time to turn the screws back on them

hutman

bruich76 wrote: »

It is a massive sellers market! Are you living in 2007?


Its been a sellers market for 2 or 3 years...


house prices have rocketed and houses are selling as soon as they go on the market.


Do you live in Sunderland or something?

To use similar discourse to you - were you asleep during June 23rd?

The consensus seems to be that that property prices will be determined by a face off between UK lack of supply/low interest rates vs inflation/unemployment/mass investment uncertainty. On top of that the ratio for lending to income is at its peak. I'm thinking the latter will win the bout.

I'm not from Sunderland but do a google search and you'll find even London's prices are sinking. 2017 will herald a property crash.

Cakeguts

I wouldn't let them have the money off. If they are asking at this stage it either means that they can't afford the house or they are going to mess you around on price at a later date. If they think they can get money off now they may try again just before exchange of contracts.

warehouse

I'd tell them to shove it. Showing weakness now invites bad buyers to try it on even more further down the line.

Doozergirl

I would offer to have those maintenance issues dealt with now. Boiler service with a safety certificate isn't going to cost much and it is helpful. Their responsibility, but not all buyers are reasonable!

Obviously I don't know what else is on the list, but getting it all sorted from your side removes their bargaining position altogether.

getmore4less

Ask for the list, anything obvious(like tyres) or should have been asked(when was the last service) cross off.

Anything else have a think. Then say no.

Second hand stuff will have things that need doing.

Alias_Omega

£2500 and the house is gone.... shouldn't take long for a Solicitor to make that back...

Or course, you could say "No" and the next offer maybe £2500, or even £5000 less. Its all just a numbers game, give in, accept and move on with your life. Let this buyer slip, you might not have another one for 5-6 months and you could be wishing you accepted that £2500 reduction..

You've not said what the price of the house is, therefore its hard to work out if this is £2500 off a £40,000 house, or £2500 off a £500,000 house....

Alias_Omega

Alias_Omega wrote: »

£2500 and the house is gone.... shouldn't take long for a Solicitor to make that back...

Or course, you could say "No" and the next offer maybe £2500, or even £5000 less. Its all just a numbers game, give in, accept and move on with your life. Let this buyer slip, you might not have another one for 5-6 months and you could be wishing you accepted that £2500 reduction..

You've not said what the price of the house is, therefore its hard to work out if this is £2500 off a £40,000 house, or £2500 off a £500,000 house....

Valuation... were going through a remortgage. The surveyor was being lazy, they valued the house at what we guessed it would be to achieve sub 60% LTV.

I kinda feel that they went "yeah, its worth that amount requested" however his comments on visiting was "you've alot of house for your money" meaning its actually worth far far more.

Guest101

bruich76 wrote: »

I will start by saying that I am a property solicitor have dealt with 1000s of conveyancing transactions. However, the buyers of our house have recently had a survey carried out (which valued the house at the purchase price).


It, however, pointed out a few maintenance points - things that should be looked at when they move in for example getting the boiler serviced, etc.


They are trying to negotiate £2,500.00 off the asking price!!


I don't know what planet they are on but it has really annoyed us... the only time this ever happens in practice is when the valuation has come back showing the property as undervalued.


We have said no, however, they are saying that they will pull out if its not reduced. I know we can meet them in the middle at £1,250.00, however, I don't think that we should have to and they are just trying it on.

Or you lose the sale....

societys_child

Alias_Omega wrote: »

£2500 and the house is gone....

They've already knocked 7.5k off and given another 1k in freebies, where does it end?

bruich76 wrote: »

we've already agreed to go £7,500 under asking price for them and throwing in £1,000 worth of free stuff